MOND AXA Bank Use Case

MOND for AXA Bank, Europe

Axa Bank, Europe, located in Brussels, is AXA Group's banking arm that provides retail banking solutions to individuals and small companies in Europe. It works in close cooperation with AXA's local insurance companies to complement their financial product offering with a range of retail banking products and services.

In addition to Belgium, Axa Bank also has a presence in Hungary, France and Germany.It offers a full range of banking products and services to retail and small business customers, serviced through more than 900 independent bank agents.

Challenges

AXA Bank's customers rely on it to process a huge number of payments every day in different formats to different countries.

To implement ISO 20022 Direct Debit (SDD), SEPA Credit Transfer (SCD) along with other formats using a single framework/product.

To create an efficient, timely, reliable and affordable payment processing system and implement the different SEPA directives.

To keep track of the annual IS 20022 changes and implement them in a time bound and cost effective manner.

The MOND Solution

After evaluating IBM WebSphere, TIBCO and other products, the AXA team decided on MOND (On-Premise) as its core payment engine.

The rules-based MOND platform was used to take data from multiple sources and transform them into the different formats required by the recipients.

Out of the box SEPA Compliance, pre-built Semantic SEPA Adapters for key SEPA Messages, lower time to market and easy learning curve were some of the key deciding factors " says the Head of IT Services at Axa Bank.

Benefits of the MOND Solution

Streamlined approach to any type of inbound or outbound payment standard.

Ability to make changes very quickly, Ability to onboard new payment gateways rapidly.

Development times was reduced by 60-80%, delivering rapid returns on investment and increased operational efficiency for a significantly lower total cost of ownership.

The MOND platform continues to play a very crucial role in this mission critical activity handling large and constantly growing data volumes.

Implemented a fully functional, highly reliable Payment Factory at a fraction of the cost when compared to IBM Websphere, TIBCO etc.

About Us

ConnectGlobalOne is recognized for its innovative, mission critical software products. Whether you buy a smart phone, transfer money, or buy from retailers, somewhere behind the scene a MOND product is doings its job silently.

Led by an experienced team that has managed startups, and very large Fortune 100 companies, ConnectGlobalOne brings the best of both the worlds to our customers.